With reference to the 'Indian Ocean Rim Association for Regional Cooperation (IOR-ARC)', consider the following statements:<br/>1. It was established very recently in response to incidents of piracy and accidents of oil spills.<br/>2. It is an alliance meant for maritime security only.<br/><br/>Which of the statements given above is/are correct?

Statement 1: Incorrect. IOR-ARC was established in 1997 (now called IORA), so it was not created "very recently"; it was formed for broader regional economic cooperation, not specifically as a response to piracy or oil spills.

Statement 2: Incorrect. It is not an alliance for maritime security only; its agenda includes trade, investment, economic cooperation, fisheries, disaster management, academic/scientific cooperation and maritime safety among others.

Therefore, neither statement is correct.